Business Loan from Farmers State Bank Given to Eating Places Company

Farmers State Bank has a track record as a leading provider of SBA loans. Find out how this Kentucky entrepreneur received an SBA loan from them.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Farmers State Bank, out of Booneville, Kentucky. The loan was granted and they received $66,662 to help grow their Buckhorn, Kentucky business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BUCKHORN, KY 41721

SBA Loan Lender

FARMERS STATE BANK
HWY 11 SOUTH
BOONEVILLE, KY 41314

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

12/13/2000

Loan Approval Gross Amount

$66,662

Loan Approval from the SBA

Of the total $66,662 loan amount, the SBA guaranteed $53,329.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Farmers State Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Understanding Dilution

Where to Get an SBA Loan in Booneville, Kentucky

SBA Kentucky Lenders